IRA - Transfer stock and get an IRA contribution
Answer:
Contributions to IRAs must be made by cash. Checks and wired funds are considered to be cash.
You may be eligible to borrow the money from the brokerage house against your stock. This is called margin.
In this way you do not have to sell the stock and you can still fund your IRA.
You may be eligible to borrow the money from the brokerage house against your stock. This is called margin.
In this way you do not have to sell the stock and you can still fund your IRA.
